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25 Pfennig
| Issuer | Magistrat Waldenburg in Schlesien |
|---|---|
| Year | 1921 |
| Type | Local banknote |
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|---|---|
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| Reverse description | Three heraldic shields are arranged side by side within an orange-ruled border: the left shield bears a stylised fir tree, the central shield displays a manor house flanked by conifers above a stag passant, and the right shield shows three deciduous trees. The denomination "25 Pf." appears in orange numerals at lower centre between the shields, with the issuing city's name carried in bold sans-serif capitals on orange banner inscriptions at top and bottom. |
| Reverse lettering | NOTGELD DER STADT 25 Pf. WALDENBURG IN SCHLES. |
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| Comments |
Waldenburg (now Wałbrzych, Poland) was a coal-mining center in Lower Silesia, and its municipal emergency money — Notgeld — was a direct response to the chronic small-change shortage that gripped Germany in the early 1920s as inflation began accelerating. The Magistrat, like hundreds of other German and Austrian local authorities, issued its own fractional notes because the Reichsbank simply could not keep low-denomination coinage in circulation fast enough.
By 1921 the Notgeld phenomenon had also become a cottage industry for collectors, and many municipalities printed artistically elaborate series specifically for that market. Whether Waldenburg's 25 Pfennig falls into the purely functional or the collector-targeted category is the real question for any serious buyer.